According to a report the executives of the top 100 listed companies of UK have seen their pay hike by 5% since the year 2008 to an average of 3.1 million euros. This rise came to act despite of a 1% fall in the earnings per every share in the same period of time.

This survey was done by the MM&K and the Manifest. Both of them looked in to the latest annual reports of around 657 companies.

The report of the companies came out as a Tesco face and increased anger of the investors over the executive pay policies. About 47% of the investors either abstained or went against the boardroom pay policy at the annual meeting of Tesco.

Spencer and Marks holds their annual shareholder meeting till next week but they could also face a similar kind of backlash.

Most of the shareholders are expected to go against the report as a protest against the huge pay package given to the new chief executive Marc Bolland.

The new package for him will give him around 8.5 million euros as salary and compensation awards.